IRS extends ACA reporting deadline for employers

The IRS has extended the deadline for reporting health plan information for 2015 under the Affordable Care Act.

Starting this year, applicable large employers (those with 50 or more full-time or full-time equivalent employees) must report whether an individual is covered by minimum essential coverage and that an offer of minimum essential coverage that provides minimum value was made to each full-time employee. This is done in form 1095-B and 1095-C.

Under a notice issued on Dec. 28, the deadlines for furnishing employees with the 2015 Form 1095-B (Health Coverage) and Form 1095-C (Employer Provided Health Insurance Offer and Coverage) have been extended from Feb. 1, 2016, to March 31, 2016. These forms explain to the employees their health benefits that you provide, if any.

The same notice also extended the deadline for filing with the IRS Form 1094-B (Transmittal of Health Coverage Information Returns), Form 1095-B, Form 1094-C (Transmittal of Employer-Provided Health Insurance Offer and Coverage Information Returns) and Form 1095-C.

The deadline for filing electronically has been moved to May 31 from Feb. 29. If filing by paper, the deadline has been moved to June 30 from March 31.